Transfer of money; transfer of funds from deposit account

Wis. Stat. § 409.332, under UNIFORM COMMERCIAL CODE — SECURED TRANSACTIONS.

Wis. Stat. § 409.332

409.332 Transfer of money; transfer of funds from deposit account. (1) TRANSFEREE OF MONEY. A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party. (2) TRANSFEREE OF FUNDS FROM DEPOSIT ACCOUNT. A transferee of funds from a deposit account takes the funds free of a security interest in the deposit account unless the transferee acts in collusion with the debtor in violating the rights of the secured party. History: 2001 a. 10.